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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #224,721
  • May 16, 2010 10:39pm May 16, 2010 10:39pm
Quoting fullhouse
alot here try to pick tops and bottoms... we all used to trade like this,,but you learn later to wait for confirmations etc..
i think if we can pierce through 130 we'll be able see a safe zone of 128 and eventually 120. UJ needs give up support at 91.70
  • #224,722
  • May 16, 2010 10:39pm May 16, 2010 10:39pm
Quoting special0nefx
Good Afternoon, Clouds. Nice pushing down GJ, resistant@132. no above it, we're way to new low
whats your local time now ?
  • #224,723
  • May 16, 2010 10:48pm May 16, 2010 10:48pm
Quoting fullhouse
whats your local time now ?
Mine GMT+8. Now is 1.50PM .
Now waiting frank n london open, a retrace may go to 134.33. Max retrace [email protected]. But i not expect above 135. Good luck all
  • #224,724
  • May 16, 2010 10:51pm May 16, 2010 10:51pm
DT has made some good points, re upcoming UK budget measures. I suspect though that Sterling will take a bit more battering before we see any significant retrace.
News eminating from the new UK government this weekend is strongly suggesting that the previous government hid debts from parliament. These hidden debts have already hammered Sterling overnight and are likely to continue to during early London trade.

Take care longs. This train hasn't reached it's destination yet.
  • #224,725
  • May 16, 2010 10:52pm May 16, 2010 10:52pm
Q,
i would like to thank you for your good analysis here. The target and counting is accurate. Very graceful and appreciated here, 10Q
  • #224,726
  • May 16, 2010 10:55pm May 16, 2010 10:55pm
Quoting ukdaytrader
DT has made some good points, re upcoming UK budget measures. I suspect though that Sterling will take a bit more battering before we see any significant retrace.
News eminating from the new UK government this weekend is strongly suggesting that the previous government hid debts from parliament. These hidden debts have already hammered Sterling overnight and are likely to continue to during early London trade.

Take care longs. This train hasn't reached it's destination yet.
UK, is the new PM got say anything about their sterling how strong and compare with euro?
There is a lot gossip pound will be like greece case, will going explore when found out bad data on it? But i not so sure about the news, because pound have been strong for decade. please advise , TY.
  • #224,727
  • May 16, 2010 11:00pm May 16, 2010 11:00pm
Quoting 5ysfx
This is good spot to consider long on cable,
healthy pullback is more than needed.

1.47-1.48 -first res zone if broken then
1.54-1.55 as second res zone

if current level broken(e.g. stocks crash) nothing left much till double bottom pattern which is perfectly aligning with fibs from all major retracement so far (marked on chart).
From that point we can expect some bigger correction unless more shit hit the fan and cable will make new low arround 1.2 - 1.15 my targets since last years.
We'll see.

There is no hurry to jump in on long side...

here is more than enough of a confirmation to short aud/usd...double top on weekly/ trendline break ,,weekly close below 200 ema ... etc etc

why bother to long on gbp/usd,,without any confirmation of a bottom and other signs ? im just curious ? im short on aud/usd witrhout a stop,,i dont need one,,enough confirmations that we topped out and we going down,,first stop at 0.7700 .. below that i dont know,,only target 0.7700 ...not a fav. pair of me to trade..but its a easy trade and forget setup ...

usd/cad just recently bottom out and start the uptrend ... eur/usd still heavy short,,usd/chf still heavy long and min 400 pips to go... why will the gbp/usd go up north ? weekly close below 1.48 is MAJOR HEAVY BEARISH ,and next stop is 1.35 with minor pitstops ...

if you are a scalper ,fair enough ..longs is good all over.. but its a no go for swing or even daytrader ...
Attached Image (click to enlarge)
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  • #224,728
  • May 16, 2010 11:03pm May 16, 2010 11:03pm
Quoting special0nefx
UK, is the new PM got say anything about their sterling how strong and compare with euro?
There is a lot gossip pound will be like greece case, will going explore when found out bad data on it? But i not so sure about the news, because pound have been strong for decade. please advise , TY.
I haven't heard Cameron say anything about Sterling which is no surprise really. No government, (except Japan), likes to say, 'yes, we would like a weak currency at this stage of our 'recovery'' Yet, they will do veryy little to strengthen it either.
My guess is that the UK government are reasonably happy to see a weak currency for the forseeable future. The hidden debts are said to total billions rather than millions.
  • #224,729
  • May 16, 2010 11:14pm May 16, 2010 11:14pm
Short now at 132.35?
  • #224,730
  • May 16, 2010 11:14pm May 16, 2010 11:14pm
Quoting ukdaytrader
I haven't heard Cameron say anything about Sterling which is no surprise really. No government, (except Japan), likes to say, 'yes, we would like a weak currency at this stage of our 'recovery'' Yet, they will do veryy little to strengthen it either.
My guess is that the UK government are reasonably happy to see a weak currency for the forseeable future. The hidden debts are said to total billions rather than millions.
Weak currency for recovery seem always works. As long the debts can be reduce and clear some will help pound strenght for future. Thanks Ukdaytrader.
  • #224,731
  • May 16, 2010 11:19pm May 16, 2010 11:19pm
133? 134? Where's to short?
  • #224,732
  • May 16, 2010 11:23pm May 16, 2010 11:23pm
Quoting $teve
133? 134? Where's to short?
132.70 is the 50% retracement from the last move down.
Also the 100sma are on the 5M, which I know doesn't mean all that much.

If she rejects around here I'll go with it.

Otherwise, I'll look around 133.40 area.

but you never know what she's gonna do.
  • #224,733
  • May 16, 2010 11:26pm May 16, 2010 11:26pm
Quoting kujo17
132.70 is the 50% retracement from the last move down.
Also the 100sma are on the 5M, which I know doesn't mean all that much.

If she rejects around here I'll go with it.

Otherwise, I'll look around 133.40 area.

but you never know what she's gonna do.
Well I put one sell limit at 133 and the other at 134.30. Hopefully it will at least spike up to 133 to trigger that one. Then I can go to sleep and wake up tomorrow hopefully seeing 129.60.
  • #224,734
  • May 16, 2010 11:27pm May 16, 2010 11:27pm
Quoting $teve
133? 134? Where's to short?
atleast 133.20 and above that is possible upto 135.70 ...somewhere beteen 133 and 136 will she hit ress,and drop down on a final leg,,then we will get an ABC correction
  • #224,735
  • May 16, 2010 11:29pm May 16, 2010 11:29pm
Don't be so excited about USD strength vs aud nzd currencies,
1.Australia needs strong currency for trade with China.
2.Australia is far away from europe and may be threaten like safe heaven.
3.From EW point of view this looks like flat correction in wave 4 so more still to come if 0.85 hold for a few days.
4.Daily ema200 has not been broken yet actually price sits on it now.
5.USD index hit UTL on bearish div
6.This is just USD...
ur choice


Quoting fullhouse
here is more than enough of a confirmation to short aud/usd...double top on weekly/ trendline break ,,weekly close below 200 ema ... etc etc

why bother to long on gbp/usd,,without any confirmation of a bottom and other signs ? im just curious ? im short on aud/usd witrhout a stop,,i dont need one,,enough confirmations that we topped out and we going down,,first stop at 0.7700 .. below that i dont know,,only target 0.7700 ...not a fav. pair of me to trade..but its a easy trade and forget setup ...

usd/cad just recently bottom out and start the...
  • #224,736
  • May 16, 2010 11:30pm May 16, 2010 11:30pm
Quoting $teve
133? 134? Where's to short?
i will wait for 133.25
  • #224,737
  • May 16, 2010 11:42pm May 16, 2010 11:42pm
That is too risky for you clouds, I know to be a pro, what about if the market has opened with a gap against you to the upside. Now where is your target for your short trade?

Quoting Clouds
hmm, thanks, now i'm doubtful it will get even to 135. i was figuring out where to put my stop at open, i slept all day friday and didn't close my shorts. now i think it's less likely to go up that far. other pairs seem melting with no buyers. not to mention gu took out lows.
  • #224,738
  • May 16, 2010 11:45pm May 16, 2010 11:45pm
Can't take it anymore. Entered short at 132.60. Another sell limit at 134.30. I can't stand the thought of seeing this thing drop like a rock without hitting my order first.
  • #224,739
  • May 16, 2010 11:46pm May 16, 2010 11:46pm
My targets are today's low and 130.40.
  • #224,740
  • May 16, 2010 11:48pm May 16, 2010 11:48pm
gud morning all, i miss this splendid move, do you guys think this will still fall?, what could happen in uk session?
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